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Precious Metals: Gold, silver plunge in futures trade amid weak demand

Gold prices on Tuesday fell by Rs 199 to Rs 39,347 per 10 gram in futures trade.

PTI|
Last Updated: Jan 14, 2020, 02.27 PM IST
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GOLD SILVER
Silver futures on Tuesday plunged by Rs 497 to Rs 45,946 per kg.
Gold prices on Tuesday fell by Rs 199 to Rs 39,347 per 10 gram in futures trade as participants cut down their positions in line with a weak trend overseas.

On the Multi Commodity Exchange, gold prices for delivery in February fell by Rs 199, or 0.50 per cent, to Rs 39,347 per 10 gram in a business turnover of 2,641 lots.

The yellow metal for April delivery slumped Rs 208, or 0.52 per cent, to Rs 39,500 per 10 gram in 254 lots.

Analysts said subdued overseas cues influenced sentiment here. Globally, gold was trading 0.75 per cent lower at $1,538.90 an ounce in New York.

Silver
Silver futures on Tuesday plunged by Rs 497 to Rs 45,946 per kg as participants cut down their bets taking weak cues from overseas markets.

On the Multi Commodity Exchange, silver contracts for March delivery tumbled Rs 497, or 1.07 per cent, to Rs 45,946 per kg in a business turnover of 5,506 lots.

Besides, the white metal to be delivered in May fell by Rs 498 to Rs 46,493 per kg in 142 lots.

In the international market, silver prices traded 1.31 per cent lower at $17.76 an ounce in New York.

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